Zoom launches $100m fund to invest in apps using its technology
By Reuters
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Zoom Video Communications Inc on Monday said it has created a $100 million fund to invest in startup software companies that build apps using its technology.
The video conferencing company has become a household name during the pandemic as businesses and schools shifted to its platform, along with rival platforms such as Microsoft Corp s Teams and Cisco Systems Inc s Webex.
Zoom Chief Financial Officer Kelly Steckelberg told Reuters that the fund will make investments of between $250,000 and $2.5 million into companies building Zoom Apps that plug into the company s video conferencing software to add new features to it.
1. Facebook unveils audio push to rival clubhouse
Social media giant Facebook has unveiled its podcast offering and “live audio rooms” in a push to get people talking and take on the fast-growing audio-based app Clubhouse.
According to Facebook, with quotations from the Facebook app chief Fidji Simo, the company has seen revelations how audio alongside texts and video can increase social interaction.
The company made this comment in its recent blog post on the company website, describing the new experience as a digital magic.
The statement reads: “We think a lot of magic happens at the intersection of audio formats, as well as at the confluence of text, audio and video.”
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Zoom launches $100 million fund to invest in apps using its technology
FILE PHOTO: Illustration picture of Zoom logo
(Reuters) – Zoom Video Communications Inc on Monday said it has created a $100 million fund to invest in startup software companies that build apps using its technology.
The video conferencing company has become a household name during the pandemic as businesses and schools shifted to its platform, along with rival platforms such as Microsoft Corp’s Teams and Cisco Systems Inc’s Webex.
Zoom Chief Financial Officer Kelly Steckelberg told Reuters that the fund will make investments of between $250,000 and $2.5 million into companies building “Zoom Apps” that plug into the company’s video conferencing software to add new features to it.
Zoom launches $100 million fund to invest in apps using its technology streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.